contracts that are typically observed in practice such as salaries, lump-sum bonuses, and high-performance commissions. …

accommodates this finding. We analyze the agents’ (optimal) behavior, optimal contracts, and social welfare in this environment. …

contracts), thanks to the threat of sanctions affecting the defaulting party, imposed by direct counterparts in the relationship … survey of the models proposed in the literature. Self-enforcing contracts are viewed as Nash equilibria of repeated games … sustained by termination-type and boycotting strategies. The prevailing enforcement mechanism depends on: the information …

information technology. As a consequence, principals may choose imperfect information technologies in equilibrium even if the …

role of education on the allocation of talent in a two-sector model where education provides workers information about …

contracts in the principle-agent relationships are determined by market forces. …